FAQs

Get answers to frequently asked questions about Charles Schwab Cards from American Express.

Schwab Investor Card® from American Express

Frequently Asked Questions

This Card is issued by American Express National Bank. Schwab and American Express National Bank, have partnered together to create the American Express Platinum Card® for Schwab, exclusively designed for Schwab investors like you.

Please note that Schwab is not involved with any credit decision, or in the approval process, for any applicant for the Card. 

Individuals 18 years of age or over with a valid U.S. home address (including in the U.S. territories and Puerto Rico) and an eligible Schwab account may apply for a Card account.

An eligible account means (1) a Schwab One® or Schwab General Brokerage Account held in your name or in the name of a revocable living trust where you are the grantor and trustee or (2) a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor pursuant to a direct contractual relationship between you and such independent advisor.

If you don't have an eligible Schwab account, you can open one at Schwab One® or by calling 866-385-1227.

No. You will need to apply and be approved for a new Schwab Investor Card® from American Express account.

Yes, you can enable access to your americanexpress.com Card account information through your schwab.com account summary page.

For servicing-related questions about your Card account, call the number on the back of your Card.

For the Schwab Investor Card® from American Express, you receive 1.5% cash back on eligible purchases made with your Card automatically deposited into your linked eligible Schwab account. For example:

Eligible Purchases in a Billing Period Cash Back Deposited
$1,000 $15
$2,000 $30
$3,000 $45

Cash back is only available to the Basic Card Member on a Charles Schwab Investor Card® from American Express who maintains an eligible account at Schwab (an "eligible account"). An eligible account means (1) a Schwab One® or Schwab General Brokerage Account held in your name or in the name of a revocable living trust where you are the grantor and trustee or (2) a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor pursuant to a direct contractual relationship between you and such independent advisor.

An eligible account will be linked to your Charles Schwab Investor Card® from American Express at time of Card account approval. If you have multiple eligible Schwab accounts and would like to update your linked account, please contact Schwab at 866-385-1227.

The cash back you will receive is 1.5% of the dollar amount of eligible purchases during a billing period. Cash back is received only on eligible purchases and will be deposited to your linked eligible account. Eligible purchases means purchases for goods and services minus returns and other credits. Eligible purchases do NOT include fees or interest charges, cash advances, purchases of travelers' checks, purchases or reloading of prepaid cards, or purchases of other cash equivalents.

You will not receive cash back for eligible purchases posted to your Card account during a billing period if the Minimum Payment Due shown on the statement for that billing period is not paid by the Payment Due Date shown on that statement.

Schwab will deposit associated funds into your eligible account approximately 6 to 8 weeks from the end of the billing period in which they are received.

Please consult with your tax advisor regarding the tax implications of any reward.

There is no monthly minimum purchase amount.

Your cash back may only be deposited into your linked eligible Schwab account.

No. Your cash back is automatically deposited after each billing period to your linked eligible Schwab account. If you have multiple eligible Schwab accounts and would like to change the account where your cash back is deposited, please contact Schwab at 866-385-1227.

American Express Platinum card

The American Express Platinum Card® for Schwab

Platinum FAQ

This Card is issued by American Express National Bank. Schwab and American Express National Bank, have partnered together to create the American Express Platinum Card® for Schwab, exclusively designed for Schwab investors like you.

Please note that Schwab is not involved with any credit decision, or in the approval process, for any applicant for the Card.

Individuals 18 years of age or over with a valid U.S. home address (including in the U.S. territories and Puerto Rico) and an eligible Schwab account may apply for a Card account.

An eligible account means (1) a Schwab One® or Schwab General Brokerage Account held in your name or in the name of a revocable living trust where you are the grantor and trustee or (2) a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor pursuant to a direct contractual relationship between you and such independent advisor.

If you don't have an eligible Schwab account, you can open one at Schwab One® or by calling 866-385-1227.

No. You will need to apply and be approved for a new American Express Platinum Card® for Schwab account.

Yes, you can enable access to your americanexpress.com Card account information through your schwab.com account summary page.

For servicing-related questions about your Card account, call the number on the back of your Card.

The Membership Rewards® program gives you one point for every dollar spent on your Card eligible purchases. Choose rewards from over 500 leading brands in travel, gift cards, merchandise, or entertainment, or redeem points for deposits by Schwab into your eligible Schwab account through Invest with Rewards. Terms and Conditions for the Membership Rewards® program apply. Visit membershiprewards.com/terms for more information. Participating partners and available rewards are subject to change without notice.

For the American Express Platinum Card® for Schwab, you can redeem Membership Rewards points for deposits by Schwab into your eligible Schwab account(s).

You can use the deposits in your eligible Schwab account to purchase investments available through Schwab.

For investment help, please call a Schwab investment professional 24/7 at 866-385-1227, or use our online tools and services to help guide you.

If you have multiple eligible Schwab accounts, each time you make a redemption you will be asked to select the account in which you would like the deposits by Schwab to be made.

Please consult with your tax advisor regarding the tax implications of any reward. See www.americanexpress.com/us/cs-platinum-benefit-terms for benefit terms and conditions.

This benefit is only available to the Basic Card Member on The Platinum Card® from American Express Exclusively for Charles Schwab, and will be awarded based on either 1) the Basic Card Member's membership in Schwab Private Wealth Services or 2) the Basic Card Member's Qualifying Schwab Holdings, in each case as described below. Basic Card Members may only receive one Schwab Appreciation Bonus each year of Card Membership.

Schwab Appreciation Bonus Measurement Dates
Your membership in Schwab Private Wealth Services, or Qualifying Schwab Holdings will be measured within five business days after (a) Card account approval and (b) the first calendar day of your annual Card account renewal month (each date, a "Measurement Date").

Schwab Appreciation Bonus Amounts
If on a Measurement Date either:

(1) your Qualifying Schwab Holdings are:

  • (i) equal to or greater than $250,000 and less than $1,000,000, you will receive a $100 Card statement credit;
  • or (ii) equal to or greater than $1,000,000 and less than $10,000,000, you will receive a $200 Card statement credit;
  • or (iii) equal to or greater than $10,000,000, you will receive a $1,000 Card statement credit;.

Or (2) you are a member of Schwab Private Wealth Services you will receive a $1,000 Card Statement credit;

Terms and Conditions for the Schwab Private Wealth Services program apply; visit schwab.com/programdetails for more information.

The Schwab Appreciation bonus may be taxable income to you and may be reported on IRS Form 1099. You are responsible for any federal or state taxes resulting from the Schwab Appreciation Bonus. Please consult your tax advisor if you have questions about the tax treatment of the Schwab Appreciation Bonus.

Qualifying Schwab Holdings
Qualifying Schwab Holdings are the sum of the following assets and obligations: (1) the aggregate assets held in the following non-retirement Schwab Brokerage Account types over which the Basic Card Member is an owner, grantor or trustee: individual, joint, revocable living trusts (where the grantor and trustee are the same), testamentary trusts, custodial, 529, guardianship, conservatorship, estate, usufruct, and life estate accounts; plus (2) the aggregate assets held in the following retirement Schwab Brokerage Account types over which the Basic Card Member is an owner, grantor or trustee: Traditional Individual Retirement Accounts ("IRAs"), Roth and Roth Conversion IRAs and Rollover IRAs, but excluding IRAs, Roth and Roth Conversion IRAs and Rollover IRAs that are managed by an independent investment advisor pursuant to a direct contractual relationship between the Basic Card Member and such independent investment advisor; plus (3) the aggregate assets held in the following Schwab Bank Account types over which the Basic Card Member is an owner or grantor: checking, savings, and pledged asset accounts; plus (4) the outstanding mortgage and home equity loan balances owed to Schwab Bank by the Basic Card Member. Retirement assets not held in accounts listed above are excluded.

Please allow 6 - 8 weeks after calculation for the Schwab Appreciation Bonus to be posted. To receive this benefit, your Card account must be active and not in default at the time of fulfillment. Your Schwab Brokerage and Schwab Bank Account types are described on your account statements available at www.schwab.com (or www.schwaballiance.com for clients of independent investment advisors). You can view your Schwab Brokerage and Schwab Bank balances on the Account Summary page of www.schwab.com (or www.schwaballiance.com for clients of independent investment advisors). For questions about your Qualifying Schwab Holdings, please contact Schwab at 866-385-1227. Only Qualifying Schwab Holdings, or membership in Schwab Private Wealth Services, in each case as of each Measurement Date, will be evaluated to determine eligibility for this benefit. For questions about your annual Card account renewal month, please call the number on the back of your Card.